Spirit Airlines, Inc. (NYSE:SAVE) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. raised its holdings in Spirit Airlines, Inc. (NYSE:SAVE - Free Report) by 88.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 626,269 shares of the company's stock after purchasing an additional 293,517 shares during the period. American Century Companies Inc. owned approximately 0.57% of Spirit Airlines worth $10,333,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Spirit Airlines by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,935,537 shares of the company's stock worth $217,291,000 after acquiring an additional 148,348 shares during the period. FMR LLC lifted its stake in Spirit Airlines by 1.3% in the 3rd quarter. FMR LLC now owns 5,296,283 shares of the company's stock valued at $87,389,000 after purchasing an additional 67,977 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Spirit Airlines by 37.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,637,683 shares of the company's stock valued at $79,557,000 after purchasing an additional 997,254 shares during the last quarter. Cyrus Capital Partners L.P. lifted its stake in Spirit Airlines by 47.7% in the 2nd quarter. Cyrus Capital Partners L.P. now owns 3,125,870 shares of the company's stock valued at $53,640,000 after purchasing an additional 1,010,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Spirit Airlines by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,142,802 shares of the company's stock valued at $36,770,000 after purchasing an additional 55,929 shares during the last quarter. Institutional investors own 65.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen dropped their price target on shares of Spirit Airlines from $11.00 to $5.00 and set a "market perform" rating for the company in a research note on Monday, January 22nd. Bank of America assumed coverage on shares of Spirit Airlines in a research note on Wednesday, January 17th. They set an "underperform" rating and a $5.00 price target for the company. Seaport Res Ptn downgraded shares of Spirit Airlines from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 17th. Citigroup lifted their target price on shares of Spirit Airlines from $3.95 to $4.00 and gave the stock a "sell" rating in a research note on Monday, February 12th. Finally, Susquehanna reissued a "negative" rating and set a $5.00 target price (down previously from $15.00) on shares of Spirit Airlines in a research note on Wednesday, January 17th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat, Spirit Airlines presently has an average rating of "Reduce" and a consensus price target of $8.17.

Spirit Airlines Stock Down 0.6 %

SAVE traded down $0.03 during midday trading on Friday, hitting $4.70. The company had a trading volume of 4,180,187 shares, compared to its average volume of 7,924,753. Spirit Airlines, Inc. has a 52 week low of $3.96 and a 52 week high of $19.69. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.69. The company has a market capitalization of $514.56 million, a price-to-earnings ratio of -1.15 and a beta of 1.38. The stock's 50 day moving average price is $6.24 and its 200 day moving average price is $11.85.

Spirit Airlines (NYSE:SAVE - Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($1.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.42) by $0.06. The firm had revenue of $1.32 billion during the quarter, compared to analysts' expectations of $1.32 billion. Spirit Airlines had a negative net margin of 8.34% and a negative return on equity of 26.38%. The business's revenue was down 5.0% on a year-over-year basis. During the same period last year, the company earned $0.12 earnings per share. On average, research analysts anticipate that Spirit Airlines, Inc. will post -2.8 earnings per share for the current fiscal year.

Spirit Airlines Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, February 29th. Stockholders of record on Friday, February 23rd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, February 22nd.

About Spirit Airlines

Spirit Airlines, Inc provides airline services. The company also offers hotels and rental cars services. It serves 93 destinations in 15 countries in the United States, Latin America, and the Caribbean. As of December 31, 2023, the company operated a fleet of 205 Airbus single-aisle aircraft. The company was formerly known as Clippert Trucking Company and changed its name to Spirit Airlines, Inc in 1992.